INSUBCONTINENT EXCLUSIVE:
The Colombian financial landscape paints a complex picture in 2024
Three major banks dominate the profit scene
Bancolombia leads the pack with impressive earnings
Its liabilities stood at 213.5 trillion pesos ($48.04 billion)
It reported profits of 912.451 billion pesos ($205 million)
Its liabilities were 108.4 trillion pesos ($24.39 billion)
It reported profits of 539.141 billion pesos ($121.31 million)
Its liabilities were 11.2 trillion pesos ($2.52 billion)
(Photo Internet reproduction)Davivienda and Banco de Occidente completed the top five profit-makers
Davivienda reported profits of 396.478 billion pesos ($89 million)
These top three banks accounted for 93.9% of total banking profits.However, not all banks fared well
BBVA Colombia led the list of loss-making banks
It reported losses of 260.715 billion pesos ($58.66 million)
Banco Popular rounded out the top three with losses of 195.763 billion pesos ($44.05 million).Three Banks Dominate Over 90% of Colombian
Banking ProfitsThe overall banking sector showed a slight decline in profits
Credit establishments reported profits of 6.4 trillion pesos ($1.44 billion)
This figure was lower than the 6.5 trillion pesos reported in September 2023.Banks accumulated profits of 6.3 trillion pesos ($1.42 billion)
Financial corporations reported 349.5 billion pesos ($78.64 million) in profits
Financial cooperatives earned 50 billion pesos ($11.25 million)
He observed positive trends and improving return on equity (ROE) figures
These developments suggest a dynamic banking sector adapting to changing economic conditions.
